Geode Capital Management LLC Has $68.26 Million Holdings in TriNet Group, Inc. (NYSE:TNET)

Geode Capital Management LLC trimmed its holdings in TriNet Group, Inc. (NYSE:TNET - Free Report) by 1.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 703,784 shares of the business services provider's stock after selling 11,863 shares during the quarter. Geode Capital Management LLC owned about 1.42% of TriNet Group worth $68,259,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in TNET. Massachusetts Financial Services Co. MA boosted its position in TriNet Group by 32.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,608,934 shares of the business services provider's stock valued at $156,018,000 after buying an additional 391,720 shares during the last quarter. Wellington Management Group LLP boosted its holdings in TriNet Group by 16.2% in the third quarter. Wellington Management Group LLP now owns 1,321,737 shares of the business services provider's stock valued at $128,169,000 after acquiring an additional 184,186 shares during the last quarter. Earnest Partners LLC increased its position in TriNet Group by 1.9% in the second quarter. Earnest Partners LLC now owns 915,043 shares of the business services provider's stock worth $91,504,000 after purchasing an additional 16,708 shares during the period. Dimensional Fund Advisors LP raised its holdings in TriNet Group by 1.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 823,019 shares of the business services provider's stock worth $82,304,000 after purchasing an additional 9,386 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its position in TriNet Group by 41.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 550,404 shares of the business services provider's stock valued at $53,373,000 after purchasing an additional 162,578 shares during the period. Institutional investors and hedge funds own 96.81% of the company's stock.

TriNet Group Trading Up 1.7 %

Shares of NYSE TNET traded up $1.49 during midday trading on Friday, reaching $90.06. 726,752 shares of the stock were exchanged, compared to its average volume of 306,573. TriNet Group, Inc. has a 12 month low of $74.32 and a 12 month high of $134.67. The company has a market capitalization of $4.46 billion, a price-to-earnings ratio of 17.35 and a beta of 1.21. The company has a debt-to-equity ratio of 7.70, a current ratio of 1.07 and a quick ratio of 1.07. The business has a 50-day simple moving average of $91.85 and a two-hundred day simple moving average of $97.13.

TriNet Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Thursday, January 2nd will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.11%. The ex-dividend date is Thursday, January 2nd. TriNet Group's dividend payout ratio (DPR) is presently 19.27%.

Insider Activity at TriNet Group

In other TriNet Group news, CTO Jeffery Jon Hayward sold 1,813 shares of TriNet Group stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $92.74, for a total value of $168,137.62. Following the sale, the chief technology officer now owns 36,951 shares of the company's stock, valued at $3,426,835.74. This trade represents a 4.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Paul Edward Chamberlain sold 375 shares of the company's stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $86.23, for a total value of $32,336.25. Following the transaction, the director now directly owns 37,591 shares of the company's stock, valued at $3,241,471.93. This represents a 0.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 4,533 shares of company stock worth $418,629. 37.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. reissued an "underweight" rating and set a $103.00 price target on shares of TriNet Group in a research note on Tuesday, October 22nd. Needham & Company LLC cut TriNet Group from a "buy" rating to a "hold" rating and set a $140.00 price objective for the company. in a research note on Monday, October 28th. Finally, TD Cowen upped their price objective on TriNet Group from $92.00 to $104.00 and gave the company a "buy" rating in a report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, TriNet Group has a consensus rating of "Hold" and an average price target of $117.00.

TriNet Group Company Profile

TriNet Group, Inc provides comprehensive and flexible human capital management services for small and medium size businesses in the United States. The company offers multi-state payroll processing and tax administration; employee benefits programs, including health insurance and retirement plans; workers compensation insurance and claims management; employment and benefits law compliance; and other HR related services.